TCF Financial Corp. (TCB) Stake Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its stake in TCF Financial Corp. (NYSE:TCB) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,500 shares of the company’s stock after selling 1,800 shares during the period. Louisiana State Employees Retirement System’s holdings in TCF Financial Corp. were worth $576,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TCB. Aperio Group LLC increased its position in TCF Financial Corp. by 2.3% in the first quarter. Aperio Group LLC now owns 28,436 shares of the company’s stock valued at $349,000 after buying an additional 636 shares in the last quarter. Oakbrook Investments LLC increased its position in TCF Financial Corp. by 11.3% in the second quarter. Oakbrook Investments LLC now owns 15,716 shares of the company’s stock valued at $199,000 after buying an additional 1,600 shares in the last quarter. Hexavest Inc. increased its position in TCF Financial Corp. by 9.8% in the second quarter. Hexavest Inc. now owns 20,218 shares of the company’s stock valued at $256,000 after buying an additional 1,804 shares in the last quarter. Ngam Advisors L.P. increased its position in TCF Financial Corp. by 12.5% in the first quarter. Ngam Advisors L.P. now owns 17,566 shares of the company’s stock valued at $215,000 after buying an additional 1,953 shares in the last quarter. Finally, HBK Investments L P increased its position in TCF Financial Corp. by 21.0% in the first quarter. HBK Investments L P now owns 16,700 shares of the company’s stock valued at $205,000 after buying an additional 2,900 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for TCF Financial Corp. (NYSE:TCB)

Shares of TCF Financial Corp. (NYSE:TCB) traded down 0.07% during trading on Monday, reaching $14.24. The company had a trading volume of 598,537 shares. TCF Financial Corp. has a 52 week low of $10.37 and a 52 week high of $15.94. The firm has a 50-day moving average of $14.49 and a 200 day moving average of $13.61. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.49 and a beta of 1.12.

TCF Financial Corp. (NYSE:TCB) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. TCF Financial Corp. had a return on equity of 10.14% and a net margin of 15.34%. The company earned $330.90 million during the quarter, compared to analysts’ expectations of $214.32 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts forecast that TCF Financial Corp. will post $1.18 earnings per share for the current year.

TCB has been the subject of several recent research reports. Barclays PLC increased their price objective on TCF Financial Corp. from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, July 25th. Zacks Investment Research raised TCF Financial Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Credit Agricole SA increased their price objective on TCF Financial Corp. from $14.00 to $15.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. Deutsche Bank AG increased their price objective on TCF Financial Corp. from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Finally, FBR & Co downgraded TCF Financial Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $16.00 to $14.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.79.

About TCF Financial Corp.

TCF Financial Corporation (TCF) is a bank holding company. The Company’s principal subsidiary is TCF National Bank (TCF Bank). The Company operates in three segments: Lending, Funding and Support Services. Its Lending segment includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance.

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